Multiple Choice
A firm started promoting its product through advertising.This changed the product's elasticity from -1.08 to -0.99.The firm should
A) Lower prices as the demand is more elastic
B) Lower prices as the demand is more inelastic
C) Raise prices as the demand is more elastic
D) Raise prices as the demand is more inelastic
Correct Answer:
Verified
Correct Answer:
Verified
Q10: The four P's are<br>A)Price,Product,Psychological,Promotion<br>B)Price,Placement,Psychological,Promotion<br>C)Price,Product,Placement,Promotion<br>D)Price,Product,Psychological,Placement
Q12: Promotion is one dimension to competition.It represents<br>A)The
Q13: Firm's should lower the price of their
Q14: For products like parking lots and hotels,the
Q16: Cannibalization is:<br>A)Reducing the sales of own firm<br>B)Improving
Q17: Firms tend to raise the price of
Q18: Firm A producing one good acquires another
Q19: Firm's should raise the price of their
Q20: Firms tend to lower the price of
Q27: If advertising makes demand of a product